I will keep trading Oil SHORT all the way up - going for the next short term pullback. Any pullback to $112.00 will be the key to watch and see if I hold for additional downside play. Had a very good CD divergence signal to get short for this last spike move in crude.
Not a losing trade in all my oil trading this year - you need to do some "search" work here at ET before you make your judgements.
So my last big oil SHORT play I already knew oil would drop over $11 a barrell AFTER I posted my entries - hmmmm Gotcha!
I am now holding 125.85 and 126.15 levels with my original 125.55 entry covered at 125.00 (flat plus $.55 per contract). I have standing orders to add to my new position at 126.45, 126.75, 127.05, and 127.35 When oil trades at $112.95 (July08 Contract) I will start taking profits and analize the situation for a $112 area potential bust.